IPE-QUEST: Dutch fund tenders euro zone debt
EUROPE - A Dutch n industry-wide pension fund has tendered $70m in euro zone debt via IPE-Quest.
The search (QN681) says the client is looking for a manager to manage a mandate with the following characteristics:
- A fixed income absolute return mandate
- Benchmark: Euribor + 200bp
- Tracking error 1-2% (2 % is absolute maximum, preferably lower)
- Denomination: Euro
- No-currency exposure other than Euro
The manager is allowed to use several different fixed income strategies to gain performance. Low duration exposure required.
The pension fund prefers managers with a substantial track record but others are encouraged to submit too.
The closing date is January 26 2007.